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Cathie Wood defends Bitcoin, rejecting claims it's a 'dead cat bounce' and insists it has a strong future.

Market News
20 Sep 2026
UToday
View Source
Bullish
Cathie Wood defends Bitcoin, rejecting claims it's a 'dead cat bounce' and insists it has a strong future.

ARK Invest CEO Cathie Wood responded to venture capitalist Jason Calacanis's claim that Bitcoin's recent price rebound is just a "dead cat bounce" and that the cryptocurrency has lost its technological edge. Wood argued that Bitcoin is far from dead and has many lives ahead. Calacanis criticized Bitcoin for being unsuitable for everyday transactions and smart contracts, suggesting it has become a mundane store of value after institutional adoption. However, Bitcoin proponents like Wood and Michael Saylor emphasize its role as "digital capital" with a $1.6 trillion valuation, highlighting its importance in preserving wealth across generations. Despite Calacanis's criticism, he still holds significant Bitcoin exposure, reflecting his complex history with the asset.

Bitcoin's market cap on Pluang stands at Rp28.739,04 trillion as of Sep 20, 2026, 15:01 WIB, with a 24-hour trading volume of Rp409,32 trillion. Despite a slight 0.98% dip in price to Rp1.424.247.938, the platform shows a typical hold time of 110 days, indicating sustained investor interest. Current order activity leans heavily toward selling at 70%, reflecting cautious sentiment among traders at this time.

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